Hsbc Holdings PLC Buys Shares of 14,161 Hess Midstream LP (NYSE:HESM)

Hsbc Holdings PLC purchased a new stake in shares of Hess Midstream LP (NYSE:HESM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,161 shares of the company's stock, valued at approximately $525,000.

A number of other large investors have also recently bought and sold shares of HESM. HITE Hedge Asset Management LLC acquired a new stake in shares of Hess Midstream in the 4th quarter valued at about $19,642,000. Raymond James Financial Inc. acquired a new stake in Hess Midstream in the fourth quarter valued at approximately $12,976,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Hess Midstream during the fourth quarter valued at approximately $8,786,000. CIBC Private Wealth Group LLC raised its position in shares of Hess Midstream by 54.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 631,123 shares of the company's stock worth $24,254,000 after purchasing an additional 222,358 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Hess Midstream by 4.9% in the 4th quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock worth $151,490,000 after purchasing an additional 191,175 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of Hess Midstream stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $39.11, for a total value of $430,210,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HESM shares. Wells Fargo & Company lowered their price objective on shares of Hess Midstream from $42.00 to $41.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Hess Midstream from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Citigroup boosted their price objective on Hess Midstream from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, Raymond James lifted their target price on Hess Midstream from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Stock Performance

Shares of Hess Midstream stock traded down $0.06 during mid-day trading on Friday, hitting $37.01. 635,558 shares of the stock were exchanged, compared to its average volume of 989,590. Hess Midstream LP has a 12 month low of $33.59 and a 12 month high of $44.05. The company has a 50-day simple moving average of $39.22 and a 200 day simple moving average of $38.42. The company has a market capitalization of $8.07 billion, a P/E ratio of 14.86 and a beta of 0.67. The company has a debt-to-equity ratio of 7.85, a quick ratio of 0.70 and a current ratio of 0.70.

Hess Midstream (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream had a return on equity of 54.59% and a net margin of 14.92%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts anticipate that Hess Midstream LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th will be paid a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 7.67%. This is a boost from Hess Midstream's previous quarterly dividend of $0.70. The ex-dividend date is Thursday, May 8th. Hess Midstream's payout ratio is presently 110.98%.

About Hess Midstream

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.